Gener8 Maritime has lifted subjects on a VLCC sale that appears to signal a lift in asset values in the sector.
New York-listed International Seaways is understood to have paid about $53m for the the 318,300-dwt Gener8 Zeus (built 2010), which would reflect a notch up in valuation.
International Seaways chief executive Lois Zabrocky declined to comment on the transaction in response to a query from TradeWinds this week.
Gener8 officials also declined comment, although a source close to the seller’s camp confirmed that the price was “similar” to the $53m figure reported by TradeWinds on Tuesday.
The sales continue a busy period for Gener8, which has now sold 12 tankers for further trading since the start of 2016 and two more for demolition, according to data from VesselsValue.
The upshot is a fleet of 32 tankers with an average age of five, including a stable of more than 20 VLCCs with an average age of just two.
It has not only been outgoings at Gener8, with the company also welcoming the final newbuilding on its books earlier this month with the delivery of the Gener8 Nestor.
